Cent, you cheap buzzard (said in my best THALL dialect), you need to invest in a new gauge!!!!
walker,
does you gauge have the valve at the end of the hose that screws into the cylinder? you might also put an air compressor on the end to see if the readings are close. are you pulling the starter until the reading stops climbing? are you testing a cold engine?
130psi is low and you are losing performance. you can pull the rings and place them in the cylinder, above the exhaust port. use a square or something similar to get them in nice and square. then you can use a feeler gauge to check the ring-end gap. my experience with husky saws is that compression is usually around 150-160psi, though i don't have any time with a 371/372.
rings are cheap---about $6ea and relatively simple to change. i would verify that the gauge is accurate then replace the rings if it is.